The prices in real estate in Manila, in the Metro Manila region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per m² in Manila has increased strongly during the last 6 months. In July, the average price per m² was ₱ 75,370. In the following month the price per m² decreased to ₱ 69,612. The price for the following two months in (September, October) had a considerable increment of 145 %. The price per m² has had a considerable increase of 135 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per m² of ₱ 88,816.5 to ₱ 119,492 during November, and December.
Based upon to the price in Manila (cities), this has gone up in the last 6 months. In our first sample month during July, the average price is ₱ 9,621,633. In August This price remains at ₱ 9,240,042. During the following two months (September, October) the average price had a considerable increase of 121 % with regard to the previous two months. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 91 %, going from ₱ 10,422,431 to ₱ 9,469,902 in November and December.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of ₱ 10,499,249 they are 64 % more affordable than the average price for Manila. The properties with the highest average price have 4 bedrooms, Their price is 151 % more costly than the average. After that we have properties with 3 bedrooms priced at ₱ 13,175,818.
With regard to the average price per m² , those properties with 2 bedrooms are the cheapest ones at a cost of ₱ 114,180 / m², with an average ₱ 118,174 / m² price in Manila. The properties with the highest average prices have 4 bedrooms. They are 23 % more expensive than the average followed by properties with 1 bedroom with a price at ₱ 125,409 / m².
The graph displaying the average prices displays the property type "Condominium" as the most affordable one. At an cost of ₱ 10,499,249 it is 48 % cheaper than the average price in Manila. "Apartment" is seen as the second most affordable property type. The dearest property type is "Commercial Lot" followed by "Farm House". At a price of ₱ 24,022,621 it is 413 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Apartment" at an average cost of ₱ 78,620 / m² followed by "Townhouse" priced at ₱ 80,863 / m². "Condominium" is the most costly type of property with a ₱ 135,104 / m² cost followed by "House" with an average price of ₱ 133,401 / m².